Home Seekers Encouraged to Make Their ‘Dream Homes’ a Reality Amid Steady Home Loan Rates: Jitendra Mehta
The Reserve Bank of India (RBI), in its latest policy review, has maintained the repo rate at 6.5% for the eleventh consecutive time while reducing the cash reserve ratio (CRR) to 4%. This move is set to influence the housing market positively, according to industry experts.
Mr. Jitendra Mehta, President of CREDAI MCHI Thane, remarked that a reduction in the repo rate would have further accelerated the momentum of housing sales in Thane. However, he emphasized that maintaining affordable home loan interest rates remains a crucial factor in attracting potential borrowers, creating a favorable environment for homebuyers.
“The RBI’s decision reflects its consideration of the recent economic slowdown and inflationary trends. Keeping the home loan rates steady ensures that homebuyers can continue to benefit from relatively affordable borrowing options,” said Mehta.
The reduction in CRR is also expected to boost the housing sector, as it enhances banks' lending capacity, thereby supporting the real estate industry.
Encouraging prospective buyers, Mehta added, “Home seekers in Thane should seize this opportunity to purchase their dream homes. With the overall cost of homes remaining relatively affordable at the close of 2024, now is the perfect time to bring in the New Year in your own home.”
Jitendra Mehta serves as the President of CREDAI MCHI Thane, actively contributing to the region’s dynamic real estate landscape.
